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Blutech, a leading company in the IIoT, announced the completion of Pre-A round of financing

Updated: Nov 8, 2023

Blutech Co., Ltd., a leading company in the Industrial Internet of Things, announced the completion of Pre-A round of financing, led by strategic investors Fengyi Electronics and Jinfeng Electronics, with the participation of original Singaporean investor Lijie Venture Capital. This financing was issued at a price premium of NT$40 per share. This capital increase will be mainly used for market development and rapid accumulation of customers and application performance.

The funds raised this time are mainly used to accelerate the promotion of the Taiwan market and increase market share. As one of the strategic investors, Fengyi Electronics (6189) and the group's Jinfeng Electronics (6577), since ODM customers are mainly from Europe and the United States. region, about five years ago, it began to focus on ESG issues such as sustainable development of supply chains, smart factory carbon reduction, and net-zero carbon emissions. The service industry spans the medical industry, fitness equipment industry, shipping industry, smart retail industry, etc. Combining Fengyi Group's electronic parts supply management, hardware development and manufacturing capabilities can strengthen the competitiveness of Blutech's products and expand the market to Fengyi's customers in Europe and the United States.

Kuo Han, Director of Sales at Blutech, excitedly mentioned: “For a long time, the traditional manufacturing industry has been a group that has been easily ignored. In addition to their remote locations, compared with the electronics or banking industries, they have relatively fewer IT resources. Provide one-stop solutions to customers, and system integration alone may cause the project to fail. The complete solution that Blutech has invested in developing for a long time is exactly what customers urgently need." And "data collection is not accessible in the industry, manufacturing The industry is subject to urgent requirements from the government, the European Union and customers. In this context, Blutech's long-distance wireless solution is the best choice for the industry. The construction is fast and the price is more reasonable. Currently, our customer satisfaction is very good of."

"Customers are facing the pressure of international carbon reduction and Taiwan's energy transformation. We have felt the anxiety of our customers. How to help manufacturing customers quickly establish a system that includes carbon inventory, energy performance management reporting and smart energy management. At this stage, there is not much time. , we must speed up the pace to solve customers' anxiety points," said Lin Zaili, chairman of Blutech .

After Fengyi Electronics came into contact with Blutech, the two parties hit it off in terms of market views and ESG concepts, and decided to work together. Currently, a new generation of energy monitoring solutions is being developed in full swing. For small and medium-sized manufacturing customers, Fengyi not only develops its own wired modular smart meters, but also cooperates with Blutech's exclusive NeVerLoSs LoRa wireless technology to Wireless and wired solutions are matched and integrated to provide a more complete and value-added solution. Furthermore, this investment case will help both parties further strengthen the company's reflection and emphasis on ESG values ​​and create greater business value for customers.

Since being selected in the second session of the Wistron AppWorks Accelerator in July 2022, Blutech has released the WSDMS wireless meter management system, iEMS smart power data system and exclusive NeVerLoSs LoRa wireless technology. So far, dozens of manufacturing companies have gradually adopted it. In the same year, it also won the ASE Group of the 2022 Green Innovation Technology Competition and has repeatedly achieved great results in the market. This valuation also reflects that the market's popularity has not diminished at all, and also validates the strength of the team. With the support of Fengyi Electronics, business expansion, product development, and supply chain management will be even more powerful in the future.

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